Post Utme Coal City University 2022 Accounting Question 37

Practice objective / multiple choice question 37 from the 2022 Post Utme Coal City University Accounting examination.

Post Utme Coal City University 2022 Accounting Objective / Multiple Choice
Question 37 POST_UTME_COAL_CITY_UNIVERSITY • 2022 • ACCOUNTING • objective

A company's trial balance showed an error of ₦10,000 due to an omission of a transaction. Prepare the necessary journal entry to rectify the error.

Answer Options

A. Debit Cash ₦10,000, Credit Profit and Loss Account ₦10,000
Correct Answer B. Debit Profit and Loss Account ₦10,000, Credit Cash ₦10,000
C. Debit Profit and Loss Account ₦10,000, Credit Capital Account ₦10,000
D. Debit Capital Account ₦10,000, Credit Profit and Loss Account ₦10,000
Correct Answer
B
Correct Option:
Debit Profit and Loss Account ₦10,000, Credit Cash ₦10,000

About This Question

This is Post Utme Coal City University 2022 Accounting Question 37. It is one of the objective questions from the 2022 Post Utme Coal City University Accounting examination.

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